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we have seen a trade deficit explode. take auto parts. ten years ago, the trade deficit was $1 billion with china on auto parts. today it's $10 billion. that's why the president at the urging of a number of us, they have taken china to the world trade organization to show china is cheating and to ask for tariffs to protect american companies and to protect american workers. and we're seeing a pattern of the government finally on the side of workers, finally on the side of american manufacturing, standing up for american workers against china. we have a new steel mill. we're seeing jobs actually come to this country or stay in this country because we're standing up and enforcing trade rules. >> romney and the republicans keep talking about another tax cut for the job creators. don't we just see them increasing their profits by outsourcing this way? i mean, the model that romney wants to lay on the country, how could it be good for workers in ohio? >> well, it's not. we tried these tax cuts for the rich. hoping it trickles down to the middl
we have seen a trade deficit explode. take auto parts. ten years ago, the trade deficit was $1 billion with china on auto parts. today it's $10 billion. that's why the president at the urging of a number of us, they have taken china to the world trade organization to show china is cheating and to ask for tariffs to protect american companies and to protect american workers. and we're seeing a pattern of the government finally on the side of workers, finally on the side of american...
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you said you would cut the deficit in half. and we'll have a trillion dollar deficit each of the next four years. if you are re-elected we'll get to a trillion dollar deficit. you said before you would cut it in half. i love this idea of $4 trillion in cuts. you've found $4 trillion to get closer to a balanced budget, yet we still have trillion dollar deficits every year. let me come back -- why don't i want to raise taxes? why don't i want to raise taxes on people? and actually you said it. back in 2010, you said, look, i'm going to extend the tax policies we have. i won't raise taxes on anyone. when we're in a recession, you shouldn't raise taxed on anyone. the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made the statement. if you believe the same thing, you don't want to raise taxes on people. and the reality is, it's not just wealthy people, not just donald trump are you taxing. it's all the businesses that employ one quarter of the workers in america, that are taxes a
you said you would cut the deficit in half. and we'll have a trillion dollar deficit each of the next four years. if you are re-elected we'll get to a trillion dollar deficit. you said before you would cut it in half. i love this idea of $4 trillion in cuts. you've found $4 trillion to get closer to a balanced budget, yet we still have trillion dollar deficits every year. let me come back -- why don't i want to raise taxes? why don't i want to raise taxes on people? and actually you said it....
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Oct 4, 2012
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if it's deficit, the president the in a weaker position, because people just associate him with the deficits, with spending. that's been a very effective line for mitt romney. and it's actually going to be interesting to see whether jim lehrer subscribes to a beltway connection with deficits, and we see from those numbers, the president is doing poorly on deficits and he's winning the race right now. >> people vote more on jobs than they vote on deficits, despite the amount the beltway obsesses on it. ed, last word? >> the other thing about the deficit, this could rope the president into a very vulnerable position and get him into a conversation about what hays going to do if he's re-elected when it comes to the big three, medicare, medicaid, and social security. i mean, is he really going to go big? >> that's a big question. >> you bet it is. and if romney can get him into a position, saying he is going to go after those big three, i guarantee you -- the president already got a letter last week, tell us what you're going to do with these earned entitlement programs, whatever you want to cal
if it's deficit, the president the in a weaker position, because people just associate him with the deficits, with spending. that's been a very effective line for mitt romney. and it's actually going to be interesting to see whether jim lehrer subscribes to a beltway connection with deficits, and we see from those numbers, the president is doing poorly on deficits and he's winning the race right now. >> people vote more on jobs than they vote on deficits, despite the amount the beltway...
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Oct 2, 2012
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i'm sure you didn't miss it. 15-point deficit for mitt romney. i'm guessing you'll argue with some parts. >> i'm not going to argue with it at all. do you really believe it's right? let me test your political wisdom. do you think it's possible for that to be right? you know it's a piece of garb e garbage? >> this is a good pollster, but you can argue that it's not 15%. do you believe mitt romney is behind in new hampshire? >> no, i believe it's head to head in new hampshire. and i've seen enough other polls to tell you that is a piece of garbage. this race in new hampshire will be won by mitt romney by two to three points. i'm willing to say that publically and stick by it and i know that it that poll of 15 points is absolutely invalid. >> every sort of professional poll i have seen of campaigns, though, all seem to have barack obama ahead and the big issue in new hampshire has been the gender gap with moderate women who may be the republicans fiscally but uncomfortable on social issues. you have had to navigate that before. that's always an issu
i'm sure you didn't miss it. 15-point deficit for mitt romney. i'm guessing you'll argue with some parts. >> i'm not going to argue with it at all. do you really believe it's right? let me test your political wisdom. do you think it's possible for that to be right? you know it's a piece of garb e garbage? >> this is a good pollster, but you can argue that it's not 15%. do you believe mitt romney is behind in new hampshire? >> no, i believe it's head to head in new hampshire....
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you're not happy with the deficit plans, you're not happy with the tax plans. but the thing that really caught my eye because it's the credo of this show. you believe that free market capitalism is the best way to grow the economy. i do too, susan. did that push you toward romney? >> absolutely. i think capitalism is the most efficient genius of american culture. and i feel that the current president doesn't see a problem that a government program can't solve. and i have much more faith in individuals. >> government trickle down. that is what the phrase that romney used. government trickle down zblin deed. >> i thought that was pretty darn clever. steve right here is cringing already about that. but government trickle down, susan. did that turn you off? >> yeah. very much so. and i think it's an accurate reflection of the philosophy of this administration. >> all right. how about the debate? we'll give you a few seconds. debate last night? please, not please? give me a quickie. >> i think you said it best, larry, when you said that the president's clock was pol
you're not happy with the deficit plans, you're not happy with the tax plans. but the thing that really caught my eye because it's the credo of this show. you believe that free market capitalism is the best way to grow the economy. i do too, susan. did that push you toward romney? >> absolutely. i think capitalism is the most efficient genius of american culture. and i feel that the current president doesn't see a problem that a government program can't solve. and i have much more faith...
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we went from deficit to surplus. and businesses did very well. >> you know what i hear and i hear it in the president's speeches, he's still working the interest groups rather than selling a national plan. he keeps talking about more teachers. he doesn't necessarily push education he pushes more teachers and he'll refurbish the school buildings. grant it the aft like it maybe your people like it but it isn't a national plan for economic development and tonight they said what's your difference and that's all he could come up with is something about the teachers. where's the national macroeconomic plan to get us out of these doldrums. >> i think he talks about education in a much different way as well. and not just talk about. he's done it. he talked about the "race to the top" tonight. as a fompbler urban school superintendent that's done more to reform schools across the country than anything else the federal government has ever done but there needs to be more than that as well. he's talked about manufacturing and ta
we went from deficit to surplus. and businesses did very well. >> you know what i hear and i hear it in the president's speeches, he's still working the interest groups rather than selling a national plan. he keeps talking about more teachers. he doesn't necessarily push education he pushes more teachers and he'll refurbish the school buildings. grant it the aft like it maybe your people like it but it isn't a national plan for economic development and tonight they said what's your...
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Sep 30, 2012
09/12
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so as a deficit, romney has a plan but it's a secret. the republican party has imposed a new kind of political correctness on their leaders. they cannot speak certain words, taxes, speculate about certain ideas, a path to citizenship, because these are forbidden. romney has tried to run a campaign while not running afoul of his party's strictures. as for himself he's twisted himself into a pretzel, spoken vacuously. that's a straightjacket even peggy noonan's eloquence can't get him out of this. for more on this, read my "washington post" column this week on cnn.com. >>> for eight years mahmoud ahmadinejad has come to the u.n. general assembly and every time he's caused controversy, making accusations. veiled threats. this year was different. it was mostly platitudes about world peace but he had plenty of sharp comments in a series of interviews. his conversation with me was his final one. perhaps his final one on the world stage. you see, iran's election law says he can't run again and elections are set for 2013. so i asked him about is
so as a deficit, romney has a plan but it's a secret. the republican party has imposed a new kind of political correctness on their leaders. they cannot speak certain words, taxes, speculate about certain ideas, a path to citizenship, because these are forbidden. romney has tried to run a campaign while not running afoul of his party's strictures. as for himself he's twisted himself into a pretzel, spoken vacuously. that's a straightjacket even peggy noonan's eloquence can't get him out of...
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they were deficit financed in the first place. the president is counting on savings from last year when the white house and congress raised the debt ceiling. >> andrea mitchell reporting. lawrence o'donnell asked martin o'malley what president obama should do next time he faces mitt romney in a debate? >> i think the president has to keep doing what he's doing. be truthful about why he made the choices he made. keep talking about the fact we are moving forward, not back with positive job growth. he has to continue to press governor romney that he's not putting forth the specifics of how he would do the various things he promised. it is a choice right now between two alternatives. i think problem's is based on the reality of the decisions we must make together as a people if we want a better and stronger economy. don't miss lawrence o'donnell on msnbc, the place for politics. here is a look at other news. in south carolina, a violent attack caught on camera. a convicted robbery defendant surprised his public defender with a roundho
they were deficit financed in the first place. the president is counting on savings from last year when the white house and congress raised the debt ceiling. >> andrea mitchell reporting. lawrence o'donnell asked martin o'malley what president obama should do next time he faces mitt romney in a debate? >> i think the president has to keep doing what he's doing. be truthful about why he made the choices he made. keep talking about the fact we are moving forward, not back with...
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Oct 3, 2012
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the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong track. i think this for the president is not about mitt romney. those advantages, chuck, on china, foreign policy and the deficit aren't as strong as for usual republicans. and the final point i would make is i think the important thing for this election is that braump has a 52 positive, 42 negative image. mitt romney has a negative image. only two have had a net negative image at this point and one of them loss, george h.w. bush and romney needs to improve that dynamic. >> democratic pollster. thank you very much to both of you. we have to get back in the field. let's keep poling. just two days away from friday's jobs report. we will get a quick preview on wall street on the market run down. and then we are taking a tr
the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong track. i think this for the president is not about mitt romney. those advantages, chuck, on china, foreign policy and the deficit aren't as strong as for usual republicans. and...
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Oct 2, 2012
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deficit larry mean that is you are spending more than you are taking in. there are two things that you can do. you have to look at the spending to determine what you have to hold on. you have to set a priority to control spending. in the second thing you must have a program to increase growth in this country and new revenue. that makes a lot of the decisions about spending easier. you get more money coming in. >> president, you have been accused by your critics of failing to deal with entitlement spending reform and basically trying to raise taxes as the only means of deficit spending. are those charges fair? >> absolutely not. we had a deal going. myself and mr. baynor until mr. can toter stepped in. what i could support is that we would have tax cuts and we would have cuts in the budget and in areas certain revenues and increased ed in taxes. it seems fair $1 of tax increases and $3 to $4 of cuts in the budget. >> 3, to $4 to $1. could you guy into that? do you think your fellow republicans could buy into that? >> the more taxes you raise, the less growt
deficit larry mean that is you are spending more than you are taking in. there are two things that you can do. you have to look at the spending to determine what you have to hold on. you have to set a priority to control spending. in the second thing you must have a program to increase growth in this country and new revenue. that makes a lot of the decisions about spending easier. you get more money coming in. >> president, you have been accused by your critics of failing to deal with...
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no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as they're paying now. >> but they shouldn't pay more. >> i thought one of the best lines is that basically we're tired of trickle down government. and he turned the tables on the president. we have the president who believes it will government is the last answer to everything. do you think that is going to be a political liability in the state of florida? >> well, keep in mind, he brought up pretty forcefully that the president cut medicare. he also said that look, we are going to keep medicare exactly as it is for those 55 years or older. but we have to do something to help th
no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as...
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Oct 5, 2012
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in half, we still have trillion dollars deficits, a we will be have a trillion-dollar deficit each of the four years if you are reelected we will get to a $20 trillion debt. >> rose: it will be seen if romney can keep up the momentum. we begin this evening with analysis of chris matthews of msnbc, welcome. >> thank you, charlie. >> rose: as you watched the debate last night, what was your reaction to what you were seeing, b, why do you think it was that way, and, c, where are we going from here? >> well, i think governor romney knew it would be a wide open format and he came in to take charge. he was a commanding presence and i feel for the president because i don't think anyone has ever had to go up against a person who just sort of took the stage as if it didn't need anyone on the stage, including the monitor and once that began, i don't know whether he could change that environment what i was frustrated is failure to use the synapse to pop out and sitting here talking you and ji jim lehr about the pbs funding which is okay and cute and fun to talk about, how about the auto industry
in half, we still have trillion dollars deficits, a we will be have a trillion-dollar deficit each of the four years if you are reelected we will get to a $20 trillion debt. >> rose: it will be seen if romney can keep up the momentum. we begin this evening with analysis of chris matthews of msnbc, welcome. >> thank you, charlie. >> rose: as you watched the debate last night, what was your reaction to what you were seeing, b, why do you think it was that way, and, c, where are...
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biggest debt and deficits as a share of gdp facing the country since world war ii. this election will have particularly rofund consequences on text market next year. >> you're looking for a profound pull back in the s&p. we're talking 100 points. 1360 is where your target is. what's that predicated on? >> a lot is the election and earnings environment. if we take the election and set it aside for now the earnings environment is deteriorating more than investors are willing to cop to at this point. first, fourth quarter of this year, we're supposed to see a remarkable recovery in earnings which i think is highly unlikely considering the macro economic climate. then an earnings kbroet in 2014. so with this fiscal uncertainty, investors have gotten a little bit ahead of themselves in terms of optimism. >> your overstating the election's impact on what the stock market will do? we had jack vogel on at the top of the show that said the market will get it wrong. >> that's possible the market gets it wrong depending on the outcome of the election. clearly this is a very ti
biggest debt and deficits as a share of gdp facing the country since world war ii. this election will have particularly rofund consequences on text market next year. >> you're looking for a profound pull back in the s&p. we're talking 100 points. 1360 is where your target is. what's that predicated on? >> a lot is the election and earnings environment. if we take the election and set it aside for now the earnings environment is deteriorating more than investors are willing to...
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the economic crisis, the world crisis, and we lost kind of the jobs that we had created, the budget deficit went up again through the roof, all of those things. but that's why i created also the schwarzenegger institute at usc, so that i can continue on those policies and solve problems in the future, even though i'm out of office. so continuing to be a public servant. >> people have been hard on mitt romney, being rich and successful. what do you think of that? are you surprised that america, the country that gave you the opportunity to become what you are, they would now turn on somebody who has accomplished what they used to call the american dream. >> as you know, john f. kennedy came from a very rich family, but the democrats don't want to talk about that. >> to be honest, i can't take the other side for real. they don't believe that that is a bad thing that he was successful. nor does i think the romney side think sometimes what they accuse obama of. you cannot take this seriously. this is a political year, there's a campaign going on. they will try to do anything they can and especia
the economic crisis, the world crisis, and we lost kind of the jobs that we had created, the budget deficit went up again through the roof, all of those things. but that's why i created also the schwarzenegger institute at usc, so that i can continue on those policies and solve problems in the future, even though i'm out of office. so continuing to be a public servant. >> people have been hard on mitt romney, being rich and successful. what do you think of that? are you surprised that...
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largest deficit in the history of our state and we built this rainy day fund and told regulators business is not the enemy. we need good regulation. we need tough regulations on hydraulic fracturing the regulations are not duplicative. we do not spend all day getting in a situation with business where we can't give them an answer. they find we are not doing a good job we go back at it because we want to the business friendly. we want the job creators to feel comfortable. liz: you went over we balanced the budget and controversial cutting but sometimes that is what you have to do and it was certain points unpopular but you did it. how do you stand up to that and get people on board? >> you want to bring people on board on all your reforms. we were reforming cleveland schools like no one ever seen. the mayor asked me to help him and i said fantastic. we try to involve people for the reforms we need and i warn people were suggested people today don't be afraid of change. we have the turnpike here. looking at ways to make the turnpike work for us. change frightens people but if you handle tha
largest deficit in the history of our state and we built this rainy day fund and told regulators business is not the enemy. we need good regulation. we need tough regulations on hydraulic fracturing the regulations are not duplicative. we do not spend all day getting in a situation with business where we can't give them an answer. they find we are not doing a good job we go back at it because we want to the business friendly. we want the job creators to feel comfortable. liz: you went over we...
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and we need to cut -- close the deficit by a trillion. we got a trillion dollar deficit and it raises like -- i think it's less. maybe 40 billion. >> are you correct, it's not sufficient. >> and he's not talking about anything else. you can keep your entitlement, keep this -- he's not talking about doing specific things with entitlements. >> you're right to this extent. he's not talking specifics on entitlements. >> it's mostly we'll tax rich people so that -- or people that make over 250 and you'll basically get to keep everything including the phones. >> joe, i thought you either wanted to talk about the last minute kick that a billy -- >> i didn't see that. oh, the redskins. >> or my terrific story on debates in the "new york times" this morning. >> it was between piece. it was a very good piece. >> i did see that. >> thank you. let me recap. >> you didn't even mention the bengals beat the redskins. >> i was going to if you brought it up. and congratses on the reds, too. they have tied the nationals for best record in baseball. so we'v
and we need to cut -- close the deficit by a trillion. we got a trillion dollar deficit and it raises like -- i think it's less. maybe 40 billion. >> are you correct, it's not sufficient. >> and he's not talking about anything else. you can keep your entitlement, keep this -- he's not talking about doing specific things with entitlements. >> you're right to this extent. he's not talking specifics on entitlements. >> it's mostly we'll tax rich people so that -- or people...
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. >> the only way to meet governor romney's pledge of not reducing the deficit or not adding to the deficit is by burdening middle class families, the average middle class family with children would pay $2,000 more. >> others have estimated the total value of the tax cuts would be some $5 trillion over ten years. governor romney says he will keep it deficit neutral and pledges there is one thing he won't do no matter what. >> i will not under any circumstances, raise taxes on middle income families. i will lower taxes on middle income families. now, you kite a study. there is six other studies that looked at the study you described and say it's completely wrong. >> the president based his assertion about a $2,000 tax increase on a study by the tax policy center which had exempted some tax deductions from any cuts in its analysis. then it concluded the plan could only be deficit neutral with a tax hike on the middle class and obama ads are hammering away. >> why won't obama level with us about the tax plans. >> the tax policy center, however, later changed its assessment. it said if romney p
. >> the only way to meet governor romney's pledge of not reducing the deficit or not adding to the deficit is by burdening middle class families, the average middle class family with children would pay $2,000 more. >> others have estimated the total value of the tax cuts would be some $5 trillion over ten years. governor romney says he will keep it deficit neutral and pledges there is one thing he won't do no matter what. >> i will not under any circumstances, raise taxes on...
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you need to gradually, year by year, reduce that deficit gradually. raise interest rates over time, in addition, need to focus from a fiscal standpoint on structural financing and structural investment that you know, this country sorely lacks. >> anyone have the will, the political will to be able to make those tough decisions right now? >> we will hear on wednesday in terms of the debates, i suspect not. the political will is divided is for their own team as for their own team, not necessarily for the united states. we are a little dour in terms of the ultimate prospects. >> matter who wins the president city for the markets? >> i don't thi so brian. i think basically what we have here is a large deficit that won't be reduced significantly. we have an easy fed that won't change its habits the next several years, the structural solutions required are five to ten years down the road. >> later on in the show, going to be talking about a mystery city that shall be unveiled that is going through its up potential minifiscal cliff, a major pension crisis. w
you need to gradually, year by year, reduce that deficit gradually. raise interest rates over time, in addition, need to focus from a fiscal standpoint on structural financing and structural investment that you know, this country sorely lacks. >> anyone have the will, the political will to be able to make those tough decisions right now? >> we will hear on wednesday in terms of the debates, i suspect not. the political will is divided is for their own team as for their own team, not...
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we have increased deficits. we have had unemployment over 8%. the middle class is hurting. and i think he did, thomas, give specifics. he gave his five-point plan how he is going to create jobs in this country. >> but senator, you don't think that we are better off than four years ago when it comes to 43 straight months of job growth, the fact that the auto bailout worked? the fact we have drawn out of the war in iraq and we are now slowly trying to map out the course to leave afghanistan? you don't think that the country is better off than we were four years ago as a whole, collectively? >> since you brought up the foreign situation, i think we are in a much worse position because the president withdrew from iraq and afghanistan without benchmarks that would be required to keep those countries stable when we leave. that's why we are seeing our people being shot by insiders in afghanistan. why things are breaking up in iraq. i don't think the world is safer because of what president obama has done. i think his foreign policy is very -- >> do you think we need to pull out of
we have increased deficits. we have had unemployment over 8%. the middle class is hurting. and i think he did, thomas, give specifics. he gave his five-point plan how he is going to create jobs in this country. >> but senator, you don't think that we are better off than four years ago when it comes to 43 straight months of job growth, the fact that the auto bailout worked? the fact we have drawn out of the war in iraq and we are now slowly trying to map out the course to leave...
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his plan would probably explode the budget deficit. it's not a fiscally responsible plan. >> isn't it true, chris, that he has said he needs to work with congress in terms of going into the specifics of what those loopholes are? >> well, that's true. ultima ultimately, congress, in particular the house ways and means committee, would ultima ultimately write any major tax reform plan. my problem here is tax reform is supposed to be about simplification. i think romney's $17,000 cap would complex complex if i the . that would add a whole bunch of new leans to the 1040, which would make the code more complex. i think we should go to something like the paul ryan house plan he introduced a couple years ago which would eliminate virtually all deductions and credits and use the money to simplify the tax structure down to 10 and 25%. romney needs to be more bold here. his running mate has the bold ideas for tax reform. that's where we should be going here. >> you know, we've had various members of the house ways and means committee on this pro
his plan would probably explode the budget deficit. it's not a fiscally responsible plan. >> isn't it true, chris, that he has said he needs to work with congress in terms of going into the specifics of what those loopholes are? >> well, that's true. ultima ultimately, congress, in particular the house ways and means committee, would ultima ultimately write any major tax reform plan. my problem here is tax reform is supposed to be about simplification. i think romney's $17,000 cap...
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the federal subsidy for pbs in 2012 doesn't make up a huge part of this deficit. for example, 2012, the federal subsidy for pbs was $444 million. if you compare that to romney's plan for the federal budget, you'll see how miniscule it is. pbs subsidy, $444 million. but if you look at the tax breaks to oil and gas companies that romney defended last night, those add up to $4 billion this year alone. and take a look at mitt romney's plan for the defense budget. he wants to increase spending by $2 trillion over the next ten years. so, i mean, big bird is a big diversion to what he's really talking about in terms of the deficit. >> well, i think those of us out here crave specifics from governor romney. and when he's talked about this in the past, he's often thrown big bird under the bus. i don't know what would happen if he threw big bird under the bass. maybe the bus would go off the road. but never the let's, he has this little set piece he does. do you want to know what i'll cut? i'll cut pbs and big bird, the national endowment of humanities and the amtrak subsid
the federal subsidy for pbs in 2012 doesn't make up a huge part of this deficit. for example, 2012, the federal subsidy for pbs was $444 million. if you compare that to romney's plan for the federal budget, you'll see how miniscule it is. pbs subsidy, $444 million. but if you look at the tax breaks to oil and gas companies that romney defended last night, those add up to $4 billion this year alone. and take a look at mitt romney's plan for the defense budget. he wants to increase spending by $2...
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who knew that he was responsible for all these deficits. elmo's got to watch out. >> and vice president joe biden was campaigning in iowa saying that mitt romney flip-flopped on his own tax cut plan that was the center piece of the gop campaign and biden challenged the republicans on the tax issue. >> you know the phrase they always use, "obama and biden want to raise taxes by $1 trillion. guess what? yes, we do in one regard. we want to let that $1 trillion tax cut expire so the middle class doesn't have the bear the burden of all that money going to the super wealthy. that's not a tax raise. that's called fairness where i come from. >> and last night on "politics nation," jared bernstein explained to al sharpton that the math in mitt romney's tax plan doesn't add up. >> if you're going to cut taxes 20% across the board, which is mitt romney's plan, you're going to blow a $5 trillion hole over ten years in the government's revenue. now, what governor romney says is i can make that up by closing tax expenditures and loopholes, but there's t
who knew that he was responsible for all these deficits. elmo's got to watch out. >> and vice president joe biden was campaigning in iowa saying that mitt romney flip-flopped on his own tax cut plan that was the center piece of the gop campaign and biden challenged the republicans on the tax issue. >> you know the phrase they always use, "obama and biden want to raise taxes by $1 trillion. guess what? yes, we do in one regard. we want to let that $1 trillion tax cut expire so...
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we have seen a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper, lael, in china is the first question, the second question is the republican nominee, mitt romney, has accused the obama administration of not being tough enough on china. the third question you have a report coming out october 15th on whether china is a currency manipulator. what are you going to say? >> well, let me just start with your first question. china's leadership team is undergoing a transition process and confront important questions how they are going to take forward their economic policy. steve, as you know, since day one, president obama's been extremely focused on achieving a mor
we have seen a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper,...
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why the deficit's been above $1 trillion now four years running, and maybe if the moderators get into it, what's happening in the middle east, and what they think they can do about it. i think that governor romney's plan's going to be to try to stick to the substance because i think the country knows we need a change. >> i'm only half joking about kicking out of the room. metaphorically, a lot of republicans want to see mitt romney do just that to the president. they want to see him verbally beat him up and make the points that you've made crystal clear and win the argument. but there's another argument that says that one of mitt romney's problems is he's not likeable enough and he may need to turn on the kind of easy ronald reagan charm which he deployed so successfully in debate. it's a fine line, isn't it, between being hard and aggressive and making a point, but also coming over as likeable. >> right. and piers, really, the way to deal with that, and i think this is true for any debate but especially one where the stakes are so high for the country, is to stick to what you want to
why the deficit's been above $1 trillion now four years running, and maybe if the moderators get into it, what's happening in the middle east, and what they think they can do about it. i think that governor romney's plan's going to be to try to stick to the substance because i think the country knows we need a change. >> i'm only half joking about kicking out of the room. metaphorically, a lot of republicans want to see mitt romney do just that to the president. they want to see him...
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mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of different details of that proposal but i would also say that limiting deductions to $17,000 for middle-class families still results in a tax increase. even in just the health premium deduction, for families last year, were about $15,000. there you go. what happens to the mortgage deduction, charitable deduction, child deduction. he's raising taxes on middle class families. >> if this comes up and mitt romney starts to do that math that paul ryan wouldn't do, i'm sure this will be a topic of discussion. >> how worried are you about the jobs report on friday? >> we face this ev
mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of...
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who knew that he was responsible for the deficits elmo has to watch out. >> joining me now nbc's joy read. he is going to cut 1, 100th of 1% of the federal budget by cutting any subsidies that go to pbs, i don't know, i don't think he is going to get to that balanced budget with that. >> i don't think so. but he will stop those socialists muppets. the problem with the idea of cutting such a small piece of the budget with pbs is medicare and medicaid. he said that he would increase military spending so what mitt romney would be left with would be slashing a third of something else. that would be school lunches and veterans benefits. he would have to slash everything else in the budget. >> the politics of it is looney. going after something that is so popular for something that is such a tiny dollar cost it is not in the rounding era margins in the budget it is dangerous. peggy noonan is saying watch out for big bird. mr. romney gave a small difficult to the incumbents i think she is right. joy, this is a bad place for romney to go. >> this was the one bone to romney threw to the far r
who knew that he was responsible for the deficits elmo has to watch out. >> joining me now nbc's joy read. he is going to cut 1, 100th of 1% of the federal budget by cutting any subsidies that go to pbs, i don't know, i don't think he is going to get to that balanced budget with that. >> i don't think so. but he will stop those socialists muppets. the problem with the idea of cutting such a small piece of the budget with pbs is medicare and medicaid. he said that he would increase...